Chapter Three

Starting Your Own Virtual Assistant Business

Starting a business is a dream for many: After all, there is nothing more rewarding or challenging than building a business from scratch. Because virtual assistance is truly a burgeoning field, there's no better time to strike out on your own and start your own virtual assistant business.

But, starting a business takes considerable time, sacrifice, and hard work. Are you up for the challenge? Perhaps even more importantly, is your family up for the challenge of spending time away from you?

Before you decide that starting a virtual assistant business is right for you and your family, start by answering the following questions:

1. Why do you want to start your own business?

2. Do you have the necessary skills to run a successful virtual assistant business?

3. What services will you offer clients?

4. Will you target a specific market for clients, such as real estate agents, internet marketers or accountants?

5. What are your goals for your virtual assistant business?
a. Are you starting a business simply to make money?
b. Do you want to challenge yourself?
c. Do you hope to grow your business to the point where you will hire other virtual assistants to perform clients' work while you oversee the overall running of the business? If so, what is your timeline for growing your business to that point six months? A year? Two years?
6. How will you charge your clients per hour or per project? Will you require a retainer and a commitment of a set number of hours per week or per month from clients before you will begin work?

7. What marketing methods will you use to find clients?

8. Will you begin your business as a part-time venture or a full-time venture? (Those who do not have other sources of income, except their own full-time job, generally opt to start their businesses on a part-time basis until they are making enough money to quit their day jobs. If you opt to start out full-time, most experts recommend having a savings of at least six months worth of expenses to allow your business the time it needs to grow.)

9. Does your family support your decision and understand that you will not be able to spend as much time with them during the start-up phase?

10. Are you prepared to work long hours and forgo free time with your family and friends?

11. Do you have the commitment that it takes to make your virtual assistant business a success?

12. Do you enjoy roller coasters? (Starting a business has plenty of ups and downs, so you must be emotionally ready for those highs and lows.)

Be honest when you answer the preceding questions. You must have the drive and the determination when you start a business to see it through to success. Keep in mind that success does not happen over night, and you will have to work hard to make your business a success.

Next: Chapter Three: Virtual Assistant Business Legalities

Previous: Chapter Three: Finding Work As A Virtual Assistant

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